TradeLink Capital LLC acquired a new stake in Enbridge Energy, L.P. (NYSE:EEP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,900 shares of the pipeline company’s stock, valued at approximately $254,000. Enbridge Energy, L.P. makes up approximately 2.3% of TradeLink Capital LLC’s holdings, making the stock its 14th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Whittier Trust Co. increased its position in shares of Enbridge Energy, L.P. by 16.0% in the first quarter. Whittier Trust Co. now owns 10,140 shares of the pipeline company’s stock valued at $193,000 after buying an additional 1,400 shares during the period. South Texas Money Management Ltd. purchased a new position in shares of Enbridge Energy, L.P. during the first quarter valued at $243,000. Beach Investment Management LLC. purchased a new position in shares of Enbridge Energy, L.P. during the second quarter valued at $245,000. Barnett & Company Inc. increased its position in shares of Enbridge Energy, L.P. by 187.3% in the second quarter. Barnett & Company Inc. now owns 18,100 shares of the pipeline company’s stock valued at $290,000 after buying an additional 11,800 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of Enbridge Energy, L.P. by 7.5% in the second quarter. Cullen Frost Bankers Inc. now owns 18,530 shares of the pipeline company’s stock valued at $296,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 54.96% of the company’s stock.

Enbridge Energy, L.P. (NYSE EEP) opened at 14.85 on Friday. The company’s market capitalization is $6.24 billion. Enbridge Energy, L.P. has a 1-year low of $14.60 and a 1-year high of $26.37. The firm’s 50-day moving average is $15.84 and its 200-day moving average is $17.56.

Enbridge Energy, L.P. (NYSE:EEP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.03. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The firm had revenue of $596.50 million during the quarter, compared to the consensus estimate of $601.82 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts predict that Enbridge Energy, L.P. will post $0.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.40 annualized dividend and a dividend yield of 9.43%. Enbridge Energy, L.P.’s payout ratio is -160.92%.

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Several brokerages have recently weighed in on EEP. Mizuho restated a “neutral” rating and issued a $19.00 target price (down from $22.00) on shares of Enbridge Energy, L.P. in a research note on Wednesday, May 17th. Zacks Investment Research upgraded shares of Enbridge Energy, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy, L.P. in a research note on Tuesday, June 6th. BidaskClub downgraded shares of Enbridge Energy, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Wolfe Research began coverage on shares of Enbridge Energy, L.P. in a research note on Friday, May 12th. They issued a “market perform” rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.45.

About Enbridge Energy, L.P.

Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering; transportation and storage services, and natural gas gathering, treating, processing, marketing and transportation services in the Gulf Coast and mid-continent regions of the United States.

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Institutional Ownership by Quarter for Enbridge Energy, L.P. (NYSE:EEP)

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